MAM
Cannes Lions 2014: 6 Indian agencies enter Media Lions finals
MUMBAI: In the Media Lions category, six Indian agencies have been shortlisted. Campaigns by JWT Mumbai, Madison Media Pinnacle, PHD Mumbai, Cheil India, Ogilvy & Mather Mumbai and McCann Worldgroup have qualified to the final round of this category.
JWT’s campaign titled ‘Make Every Yard Count’ for Nike under the subcategory ‘Use of Social Platforms’ appears on the shortlist.
O&M’s work for Akansha Foundation called ‘Barter’ under two subcategories ‘Best Use of Social Platforms’ and ‘Charities Public Health & Safety, Public Awareness Messages’ has made it to the shortlist.
Cheil’s ‘Halonix Safer City Project’ campaign for Halonix Indoor has been shortlisted in the ‘Use of Outdoor’ subcategory.
PHD Mumbai’s work for HUL, titled ‘Kan Khajura Tesan’ has made it to the finals of ‘Use of Audio’ subcategory.
On the other hand ‘Mobile Breathmills’ for Cadbury India by Madison Media Pinnacle under the subcategory ‘Use of Mobile Devices’ has made it to the shortlist too.
McCann Worldgroup India’s campaign called ‘Share My Dabba’ for ‘Happy life Welfare and Dabbawala Foundation’ has qualified to the shortlist under the subcategory ‘Charities Public Health & Safety, Public Awareness Messages.’
The Media Lions competition was created in 1999 to honour excellence in media strategy, planning and execution and give key players in the media industry an annual meeting point.
Brands
Reserve Bank of India cancels Paytm Payments Bank licence
Central bank cites compliance failures; curbs tighten as wind-up looms
MUMBAI: India’s banking watchdog delivered its sharpest blow yet to Paytm Payments Bank, cancelling its licence and effectively ending its ability to operate as a bank under the law.
The Reserve Bank of India said the entity can no longer conduct banking business under the Banking Regulation Act, citing concerns that its affairs were not being run in the interest of depositors or the public and that it had failed to meet licence conditions.
The move escalates a crackdown that has been building for months. The bank had already been barred from onboarding new customers since March 11, 2022, and later faced restrictions on deposits, credit and wallet top-ups. In January 2024, the central bank ordered it to stop accepting fresh deposits, pointing to persistent non-compliance, including lapses in customer due diligence, use of funds and technology systems.
Operationally, the bank is now on a tight leash. It may process withdrawals of existing deposits and facilitate loan referrals through banking correspondents, but it cannot take fresh deposits.
The central bank said it would apply to the high court to wind up the bank.
Paytm sought to ringfence the fallout. In a regulatory filing, it said the licence cancellation applies to Paytm Payments Bank Limited, a separate entity, and should not be attributed to One 97 Communications. It added that there is no exposure or material business arrangement with the bank and that it operates independently, without Paytm’s board or management involvement.
“As informed earlier, Paytm (One 97 Communications Limited) and its services, which have been operating without interruption, will continue to operate uninterrupted. These include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies,” the company said.
The distinction may reassure users of the app ecosystem, but the regulator’s verdict is unequivocal. After years of warnings, caps and curbs, the payments bank experiment at Paytm is being shut down—decisively, and with little room left to manoeuvre.
